HFX.com, a world leader in online Foreign Exchange, announced today the results of their annual "Trader Habits" survey. The survey results, based on over 5000 Middle Eastern traders, provides insight to Middle Eastern trading habits and correlates between geographical location and trading preferences.
"We found that the Middle Easter trader - primarily from Saudi Arabia and the Gulf - knows exactly what he wants, he is a sophisticated trader, in large volumes and is not afraid to try new products". Said Philip S. Martin, HFX.com Chief Executive Officer. "The Average trader is a married male, over the age of 28, with 3 children, full time employee and not concerned by online trading in large volumes"
"We noticed, that unlike the European trader that tends to trade in currencies such as EUR, GBP and USD, the Middle Eastern trader likes to trade in Commodities such as 'Gold' and 'Oil'. The Middle Eastern traders know and understand these markets and also know how to profit from it" said Martin.
When reviewing geographical discrepancies, the survey results show that Traders from Saudi Arabia are slightly more cautious upon entering the Foreign Exchange market, with an average of 7,500 SAR ($2,000) as the initial deposit. Once this trader sees profits, they will invest up to $50,000. On the other hand, traders from the Emirates prefer starting with an investment of 10,200 AED ($2,800). These traders are more aggressive then the Saudi traders, which means that they make more deals in a shorter amount of time and are also more open to experimenting with EUR/USD. This as opposed to the Saudi trader who likes to "play it safe" and enjoy the profits from commodities such as Gold and Oil. The average portfolio of a trader from the Emirates is valued at $24,000.
Another trend that the survey results showed is that new and inexperienced traders are joining online trading more than ever before. If 3-4 years ago, most of the traders were experienced traders with a financial background, today new traders are willing to learn, and join this lucrative market. New traders start off with a smaller investment of about 3,500 SAR (about $1,000) and start building a diverse portfolio. The traders perceive online trading as safer than conventional bank-based trading. "Having the ability to trade from home and work whenever I want" said Hossam Ismail, one of HFX.com traders. "Gives me the peace of mind and control I need in order to gain the most from this trading market" Mr. Ismail, like many new traders had no background in finance, started with a small amount, traded in Gold, until he doubled his investment and then progressed to other products, like currencies and CFD's.
Another interesting finding from the survey results was regarding the information channels that the traders use. Most traders read the local newspaper or websites, after learning about the market, they start to rely on financial sites and trading signals from professional companies, provided by their broker. As the trader progresses he tends to use more online trading advice from those trading signals since they represent the best the trends in the markets.
The 2012 Middle Eastern Trader Habits survey highlights:
Three out of four traders didn't have any financial experience prior to entering the online foreign exchange markets
The average trader starts his portfolio with an initial investment of over $2,000, and after six month he re-deposits and with his profits his portfolio is worth about $18,000
Traders from Saudi Arabia tend to invest in commodities such as Gold and Oil
Traders from United Arab Emirates tend to trade with commodities but also a big portion of their portfolio is based on currencies such as EUR and USD.
The main forms of information that help traders are professional trading sites, and the trading signals provided by the broker company.
The average trader is a married male, over 28 year old 3 children and full time position.
About HFX Global Ltd.
Founded in 2008, HFX Global Ltd. the operator of HFX.com, is one of the biggest brokers in the Arab market, with over 3000 new traders each month. HFX.com focuses on providing the ultimate trading experience for it traders, providing 3 trading platforms, trading signals and market analysis for each trader. With offices all over the globe HFX.com is considered one of the top brokers in the world today. www.HFX.com
© Press Release 2012
